By Emily Hawkins
Aussie investment giant Macquarie is considering a £1bn bid for PD Ports, owner of Felixstowe and Teesport ports.
PD Ports’ owner, private equity firm Brookfield, shut down an auction of the company last year while a legal row with the owner of land near Teesport raged on.
According to The Times, should Macquarie submit a bid, it would be around £1bn, lower than the £1.3bn initial auction bids are said to have reached.
Canadian Brookfield had been hoping to seal a £2bn deal for the business, according to the newspaper’s City sources.
It comes as the economic situation has worsened in the ten months since the initial auction, while PD Ports has struggled with its performance since then too.
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